Europe

European insurers back EC’s consumer protection reforms

European insurers have thrown their support behind the European Commission’s (EC) move to bolster consumer protection across the European Union.

Allianz promotes Stait to head of claims operations

Allianz Insurance has promoted supply chain head Graham Stait to head of claims operations.

European P&C shares gain on investor hopes of further US spending

European and US P&C stocks moved higher on Thursday as investors pinned hopes on news of fresh fiscal stimulus measures in the US and a communication from the European Central Bank on plans to tackle deflation.

Munich Re Automation Solutions to invest Eur16mn in R&D programme

Covid-19 “distracting” leaders from long-term risks: WEF

Unemployment is the main concern for business executives globally, according to the World Economic Forum (WEF) which noted that the Covid-19 pandemic and associated economic fallout may be “distracting” leaders from long-term risks.

Irish insurer FBD faces domestic BI court test case

Ireland’s Commercial Court has begun hearing an action brought by four pubs against FBD Insurance who allege the Irish commercial insurer refused to payout on what they say are legitimate Covid-19 related business interruption claims.

EU watchdog mulls increased capital oversight to tackle climate risk

Europe’s insurance watchdog is considering introducing requirements for insurers to stress-test their capital levels against long-term scenarios for climate change.

EU insurance watchdog to prioritise pandemic cover

The European Insurance and Occupational Pensions Authority (Eiopa) has pledged to focus on developing “shared resilience solutions” for the market to ensure that businesses in the region are able to get cover against future pandemics.

Euro P&C stocks and US futures rebound on signs of Trump’s health improving

European P&C stocks moved higher on Monday on news that US President Donald Trump’s health is improving.

Canopius renewable energy team departs

Canopius’ head of renewable energy Maarten Mulder and his three Amsterdam-based colleagues that lead the insurer’s renewables offering are leaving the company, The Insurer can reveal.

Euler Hermes names Allianz France’s Kopff as new CEO and chair

Trade credit insurance giant Euler Hermes will appoint Clarisse Kopff as its new CEO and chairperson from the beginning of next year, replacing the long-serving Wilfried Verstraete who is stepping down after more than 11 years in the role.

Sedgwick acquires Portugal’s Perigest

Carlyle Group-backed Sedgwick has acquired Perigest, a loss adjusting and claims management company in Portugal.

Coverys launches broker Celeritas through CEH platform

Coverys has launched a new Lloyd’s broker for open market placement and binder business through its Coverys European Holdings (CEH) platform.

Markets Review: Hiscox bucks Q3 downward trend; Beazley biggest faller

Shares in London-listed Hiscox gained nearly 14 percent in the third quarter of 2020, the largest recovery among European carriers covered by this publication.

K2 International prepares for Brexit with Brussels office

K2 International, the London-based specialty insurance and reinsurance underwriting platform of US program manager K2, has launched its European operations with the opening of an office in Brussels.

Eiopa extends Parente’s term by five years

The European Insurance and Occupational Pensions Authority (Eiopa) has extended the term of Fausto Parente, the current executive director of Europe’s insurance watchdog, for another five years.

Mapfre Re appoints San Basilio as CUO

Mapfre Re has appointed Javier San Basilio as chief underwriting officer.

Berenberg upgrades Zurich CR forecast as insurer ‘sharpens value proposition’

Zurich is well placed to benefit from Covid-19 and is using the crisis to sharpen its value proposition to investors, according to Berenberg analysts.